Interview challenge
| Pyramidia Ventures | ||||||||||
| Interview Challenge – Accounting | ||||||||||
| Admin & Accounting Intern | ||||||||||
| Prepare the following challenge and send your report in Excel to glorymugo@pyramidiaventures.com | ||||||||||
| You are the Accounts Assistant of Pyramidia Ventues Ltd. You are tasked with preparing the periodic Financial Statements. | ||||||||||
| In any cases where the information is incomplete (indicated with a ?), you’ll have to make and cite your assumptions explicitly. | ||||||||||
| 1. Prepare 12-months of monthly financials, from July 2023 to June 2024. | ||||||||||
| 2. Prepare an Income statement for the year and Opening and Closing Balance sheet for the end of June 2024. | ||||||||||
| The below information is available. Highlight any concerns or comments | ||||||||||
| Item | Items as of July 2023 | % | Assumptions | |||||||
| Sales of Tomatoes | Ksh800,000 | Growing at 5% per month | ||||||||
| Sales of Leafy Greens | Ksh500,000 | Growing at 8% per month | ||||||||
| Rent of sales branches | Ksh10,000 | Constant monthly | ||||||||
| Salaries | Ksh150,000 | Growing by 5,000 every month | ||||||||
| Sales & Marketing cost | Ksh80,000 | Growing the same as sales volume growth | ||||||||
| Other admin | Ksh40,000 | Growing at 2% monthly | ||||||||
| Gross Margin on Tomatoes | 26% | As of January, GM improves to 28% | ||||||||
| Gross Margin on Leafy Greens | 24% | As of January, GM improves to 26% | ||||||||
| Long-term bank debt | Ksh5,000,000 | 5-year term loan with annual principal repayment in January | ||||||||
| Interest on debt | ? | Payable monthly. Please suggest interest rate | ||||||||
| Purchase of new car | ? | Buy 1 small car in the coming year. Please suggest price and how to finance | ||||||||
| Electricity and water | Ksh15,000 | 2% | Monthly bill, rising at 2% per month | |||||||
| Current assets | Ksh3,400,000 | |||||||||
| Current liabilities | Ksh500,000 | |||||||||
| Property, plant & equipment | Ksh6,000,000 | |||||||||
| Accumulated depreciation | Ksh900,000 | |||||||||
| Financial year depreciation | Ksh300,000 | |||||||||
| Stockholder equity | Ksh3,000,000 | |||||||||
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